The UK Government has announced a new fund that provides financing to UK start-ups and scale-ups in the form of a convertible loan which is invested directly by the Government. For further detail on the fund please see www.gov.uk/guidance/future-fund.
At HM Treasury’s request, Orrick and three other law firms collaborated on a task force of lawyers with expertise working with emerging innovative companies and their investors. The Orrick team was led by London partner Ylan Steiner, along with Aaron Archer (Cooley), Adrian Rainey and Adam Thatcher (Goodwin) and Angus Miln (Taylor Wessing).
“The government is providing vital support to innovators and investors to maintain the UK’s position as a global tech hub,” said Ylan, a member of our Technology Companies Group. “As a leading advisor to tech companies, we are proud to be part of an initiative to help the government to design and implement targeted support to the start-up and scale-up communities through the COVID-19 pandemic.”